An Economics Perspective on Treating Voluntary Programs as Clubs
An Economics Perspective on Treating Voluntary Programs as Clubs
This chapter explores a means of developing a formal economic model that can situate certain elements of club theory within a model of the private provision of a public good. “Warm glow” preferences are presented to begin the formulation of this model. This preference pertains to how. when consumers purchase of a green good, they care only about the private provision of the green characteristic. This model is then further extended to account for more general preferences, compared with the socially optimal club with the open-access market equilibrium club. In conclusion, the chapter develops an economic model that serves as a starting point for formal thought regarding “voluntary programs as clubs, nested within the context of public goods provision.”
Keywords: economic model, club theory, private provision, warm glow, green good, socially optimal club, equilibrium club, voluntary programs, public goods provision
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